26/08/2019 - 06:57

Morning Headlines

26/08/2019 - 06:57

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Morning Headlines

Treasurer’s plea to business

Corporate Australia must help lift flagging productivity, and hence wages, by investing in growing businesses, not share buybacks and special dividends, Treasurer Josh Frydenberg says, as he seeks to limit the damage from the global trade war and markets turmoil. The Fin

Trade war puts markets on edge

Financial markets will start the week on a knife’s edge as the US and China engage in counterattacks over tariffs, reigniting the trade stoush and rattling investor nerves as central bankers reel over any fallout in the global economy. The Aus

Port in a Labor storm

Bitter tensions have again been exposed inside WA Labor amid claims of bullying over a hotly contested union push to kill off the McGowan Government’s promise to build a new port. The West

Fortescue to dig up $3bn profit

Iron ore miner Fortescue Metals is expected to report a bumper profit today on the back of a surge in iron ore prices as the market turns its attention to future impacts from the US-China trade war. The Aus

Disney in hunt for Plus partners

Disney is in talks with Australian telcos and local media players to promote and integrate its new app, as the global giant prepares to remove its content from streaming platforms. The Aus

Morrison to talk tech at world’s top table

Prime Minister Scott Morrison is using his two-day visit to the G7 leaders’ summit to step up his crusade to get social media companies like Facebook and Google to erase violent extremism from their platforms. The Fin

Control of IP an answer for unis short of cash

Australian universities have a ‘‘mishmash of rules’’ around intellectual property which is the weak link in getting science research from the bench to the production line, according to CSIRO chief scientist Cathy Foley. The Fin

AusSuper keen to take more firms private

The $171 billion giant AustralianSuper will continue to hunt for listed companies it can take private, according to the architect of the controversial joint bids for Healthscope and Navitas it made alongside private equity firm BGH last year. The Fin

Oil and gas giant told to shell out tax

Shell says it is in discussions with the Australian Taxation Office after reports the British-Dutch oil and gas giant has been hit with a $755 million bill. The Fin

 

Ashes Update

A Ben Stokes-led England has completed one of the most remarkable Ashes victories in history, as Australia was left to rue a bundle of missed opportunities to put the game to bed in the final moments of the match.

England won by 1 wicket, with Stokes’ 135 not out steering England to a thrilling Third Test win at Leeds, 75 of those runs with England’s last batsman – Jack Leach – who scored just a single run during their partnership.

ENG: 67, 9/362 AUS: 179, 246

 

The Australian Financial Review

Page 1: Corporate Australia must help lift flagging productivity, and hence wages, by investing in growing businesses, not share buybacks and special dividends, Treasurer Josh Frydenberg says, as he seeks to limit the damage from the global trade war and markets turmoil.

Page 3: Deloitte is facing a rebellion from its junior auditors who are frustrated that new graduates are coming in on bigger salaries.

Lion Co has become one of the first companies to ban questions to job candidates about their salary history in an effort to tackle the gender pay gap.

Page 4: Best-interest duties and changes targeting bonus commissions are a step closer for the nation’s 17,000 mortgage brokers as Treasurer Josh Frydenberg moves to implement key recommendations of the Hayne royal commission.

Page 8: The Coalition is increasing pressure on Labor to support Australia’s free trade deal with Indonesia, as businesses eager to tap into growing markets in the region push for Parliament to approve the agreement.

Page 11: A senior member of the Fair Work Commission approved a construction agreement in opposition to the commission’s own analysis that it paid workers below the industry minimum.

Page 13: Prime Minister Scott Morrison is using his two-day visit to the G7 leaders’ summit to step up his crusade to get social media companies like Facebook and Google to erase violent extremism from their platforms.

Page 14: Australian universities have a ‘‘mishmash of rules’’ around intellectual property which is the weak link in getting science research from the bench to the production line, according to CSIRO chief scientist Cathy Foley.

Page 15: The $171 billion giant AustralianSuper will continue to hunt for listed companies it can take private, according to the architect of the controversial joint bids for Healthscope and Navitas it made alongside private equity firm BGH last year.

Page 17: Fortescue Metals Group’s commitment to its dividend payout ratio will be put to the test on Monday, when declaration of its biggest ever profit coincides with slumping iron ore prices.

Page 24: Shell says it is in discussions with the Australian Taxation Office after reports the British-Dutch oil and gas giant has been hit with a $755 million bill.

 

 

The Australian

Page 1: US President Donald Trump said he was having “second thoughts” about the deepening trade war with Beijing, just hours before he was due to meet overnight with Scott Morrison on the sidelines of the G7 summit in Biarritz.

Page 2: Papua New Guinea will increase the pressure on Australia for a major financial bailout, during talks today to elevate the bilateral relationship to a new comprehensive strategic partnership.

Page 3: The Morrison government is rushing to tighten national security rules governing university research collaboration with foreign countries.

Page 5: The Coalition will not see a single major new dam built by the end of this term, despite committing $1 billion to water infrastructure since it came to office in 2013.

Page 6: The war within the CFMEU has intensified, with national officials threatening Federal Court action against Victorian secretary John Setka after he allegedly demanded that two union organisers defect to his camp and “pinch” members from a rival division.

Page 9: Hundreds of new fires are raging in the Amazon rainforest in Brazil, official data showed yesterday, as thousands of troops started to help fight the worst blazes in years following a global outcry.

Page 17: Financial markets will start the week on a knife’s edge as the US and China engage in counterattacks over tariffs, reigniting the trade stoush and rattling investor nerves as central bankers reel over any fallout in the global economy.

Crown Resorts completed a review of its internal risk systems and anti-money-laundering controls following recommendations from the Victorian gaming regulator more than a month before allegations surfaced about its links with organised crime.

Page 19: Iron ore miner Fortescue Metals is expected to report a bumper profit today on the back of a surge in iron ore prices as the market turns its attention to future impacts from the US-China trade war.

Sandeep Biswas, the head of Australia’s biggest gold miner, has sold almost $7 million worth of Newcrest shares as the company enjoys a healthy share price on the rising price of the precious metal.

Page 23: Disney is in talks with Australian telcos and local media players to promote and integrate its new app, as the global giant prepares to remove its content from streaming platforms.

 

 

The West Australian

Page 1: Nine out of 10 West Australians support euthanasia and the State Government’s bid to legalise voluntary assisted dying, a poll conducted exclusively for The West Australian reveals.

Page 4: Young people in foster care are worse off than their peers when it comes to mental wellbeing and education, with 80 per cent not completing high school, according to new research by the Telethon Kids Institute.

Page 7: Parents are turning to specialists in everything from toilet training to thumb sucking to help navigate some of the more challenging aspects of child rearing.

Page 8: Bitter tensions have again been exposed inside WA Labor amid claims of bullying over a hotly contested union push to kill off the McGowan Government’s promise to build a new port.

WA’s peak industry and business advocates have warned that State Government plans to introduce industrial manslaughter laws will not “eliminating onsite fatalities”.

Page 11: The WA Symphony Orchestra plans to capitalise on relaxed liquor laws with a new series for young professionals that lets you drink wine while listening to the classics.

Page 22: The fabric of Australian sport is under threat because of an audacious bid to centralise its governance in the Eastern States, according to WA powerbrokers.

Business: Australia’s gold production hit a record 321 tonnes in the 2018-19 financial year as bullion prices surged.

The 2019 Shark Bay prawn catch has bounced back after last year’s dire season but is still unlikely to match longer-term average volumes.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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